TD Bank sets new CEO’s pay at $7.9 million, cuts US chief’s salary

(Reuters) – Canada’s TD Bank Defines General Director Raymond has no 2024 salary ($ 7.4 million) ($ 7.88 million).

At the beginning of this year, the bank has not been accelerated in more than two months, while reducing the annual salary of Barn Maskrani by 89%.

The compensation of Salom decreased by 23% in 2024 to $ 3.51 million, but he will receive $ 2 million bonus in 2025 during the meeting of AML restoration conditions and the most important points.

TD is currently a recovery program after a lender guilty of impenders on the US retail business guilty, which has enabled lalases from drug traffickers.

The lender has been assigned to pay a $ 3 billion fine and has made several changes, including a strategic overview.

TD added that more than 40 new leaders and 700 AML specialists have been appointed to strengthen their risk and compliance opportunities.

“There is no doubt that 2024 was a difficult year for TD,” said Board Chairman Alan Makedbon.

“The weight of TD’s US dollar’s elastic failures, related to the restrictions imposed on the US retail business and will continue to have a significant impact on the bank.”

Masrani, along with TD, will receive $ 500,000 per month with TD, the bank reports.

The bank has nominated Anna Arsov, the Pan-Armenian Pan-Armenian Pan-Armenian Pan-Armenian Co-Chair of Moody’s Ratings Financial Institutions, its advice. It previously announced four other nominations, each of which was an expertise of risk and compliance, as members of the five council are expected.

Chun’s compensation targets $ 12 million rose to 2025, as he assumed the role of the General Director. Its compensation was set at $ 9.5 million, while he served as Chief Executive Officer in February.

($ 1 = 1.4474 Canadian Dollars)

(It reports that Arasu Kanagi Bengaluru and Eldita Balu in Toronto. Editing by Mohamed Safi Shamsi)